LSV Asset Management Has $35.81 Million Stake in Cathay General Bancorp (NASDAQ:CATY)

LSV Asset Management trimmed its position in Cathay General Bancorp (NASDAQ:CATY) by 10.1% in the first quarter, HoldingsChannel.com reports. The firm owned 946,593 shares of the bank’s stock after selling 106,747 shares during the period. LSV Asset Management’s holdings in Cathay General Bancorp were worth $35,810,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. GAMMA Investing LLC acquired a new position in Cathay General Bancorp during the fourth quarter worth $51,000. TFO Wealth Partners LLC increased its stake in shares of Cathay General Bancorp by 22,160.0% in the fourth quarter. TFO Wealth Partners LLC now owns 4,452 shares of the bank’s stock valued at $198,000 after buying an additional 4,432 shares in the last quarter. Capstone Capital Wealth Advisors acquired a new stake in shares of Cathay General Bancorp in the fourth quarter valued at $225,000. Weil Company Inc. acquired a new stake in shares of Cathay General Bancorp in the fourth quarter valued at $238,000. Finally, Vest Financial LLC acquired a new stake in shares of Cathay General Bancorp in the fourth quarter valued at $239,000. 75.01% of the stock is currently owned by institutional investors and hedge funds.

Cathay General Bancorp Stock Performance

CATY traded down $0.07 during trading on Friday, hitting $39.38. The stock had a trading volume of 265,083 shares, compared to its average volume of 338,244. The company has a 50 day moving average price of $36.75 and a 200-day moving average price of $38.55. The firm has a market cap of $2.87 billion, a price-to-earnings ratio of 8.71 and a beta of 1.13. Cathay General Bancorp has a one year low of $32.08 and a one year high of $45.72. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.04 and a quick ratio of 1.03.

Cathay General Bancorp (NASDAQ:CATY) last released its earnings results on Monday, April 22nd. The bank reported $0.98 earnings per share for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.04). The company had revenue of $339.25 million for the quarter, compared to the consensus estimate of $188.85 million. Cathay General Bancorp had a net margin of 24.41% and a return on equity of 13.02%. During the same quarter in the previous year, the company posted $1.32 earnings per share. As a group, research analysts predict that Cathay General Bancorp will post 3.95 EPS for the current year.

Cathay General Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Thursday, May 30th were given a dividend of $0.34 per share. The ex-dividend date was Thursday, May 30th. This represents a $1.36 annualized dividend and a dividend yield of 3.45%. Cathay General Bancorp’s dividend payout ratio is currently 30.09%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CATY. Wedbush reiterated an “outperform” rating and issued a $44.00 price target on shares of Cathay General Bancorp in a report on Tuesday, April 23rd. Keefe, Bruyette & Woods dropped their target price on Cathay General Bancorp from $46.00 to $41.00 and set a “market perform” rating on the stock in a research report on Tuesday, April 23rd. Truist Financial dropped their target price on Cathay General Bancorp from $40.00 to $38.00 and set a “hold” rating on the stock in a research report on Thursday, April 25th. Finally, StockNews.com upgraded Cathay General Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $39.00.

Cathay General Bancorp Company Profile

Cathay General Bancorp operates as the holding company for Cathay Bank that offers various commercial banking products and services to individuals, professionals, and small to medium-sized businesses in the United States. The company offers various deposit products, including passbook accounts, checking accounts, money market deposit accounts, certificates of deposit, individual retirement accounts, and public funds deposits.